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Business Plan Consultant: How to Choose a Consultant

Business Plan Consultant: How to Choose a Consultant

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It is necessary for you to interview different business consultants or consulting companies before deciding who to work with. It is more important at this point to ensure that you have positive responses to the next three questions than to just choose an adviser based on price. The concluding question ought to help to broaden your search if necessary.

Do they listen to your queries and are they able to answer clearly? 

If you discover that the advisers or consultants you talk with are far more interested in promoting their own solutions rather than listening to your ideas, your current situations and the particular help you will need, this scenario will likely not change as you proceed. Moreover, the adviser’s answers to your queries should be clear and understandable. If they are filled with business jargon, which the adviser will not describe for you, take caution that they might produce results that cloud your mind and you cannot readily evaluate.

Do they describe their process and procedure to you and comprise numerous factors for your input?

Every development process of a business plan will start with the adviser or consultant getting to know the entrepreneur and interviewing him or her in order to learn how far the entrepreneurs are with their own research, business idea and strategies. Make certain that the procedure will contain sufficient number of opportunities for you to receive drafts, provide feedback and give instructions on adjustments that need to be made. These opportunities will ensure that the business plan is crafted to fit your needs and prevent the final output from pertaining to a business that you do not want or are incapable of executing.

Would they consider the quality of your business idea?

If a consultant does not care to learn what your fundamental idea is and its feasibility prior to commencing its consulting work, be careful. Successful and experienced business plan advisers speak and regard highly of their success rate in assisting their clients to obtain financing. Working on business plans which are doomed from the start will lower their success rate and have a negative impact on their reputation. On the other hand, consultants who only care about the volume of their sales will take on jobs regardless of the strength or weakness of their clients’ business idea. Having such consultants to work on your business plan may potentially be dangerous and detrimental to the overall value you are receiving for the price you are paying.

Why prefer local?

Ultimately, with video conferences and email broadly accessible, there is absolutely no reason to restrict your research to local advisers. In case you do not have any fear of throwing a wider net when seeking for the best adviser for you and your business plan, you may take advantage of this technology to get in touch with people you might never meet in person throughout the procedure. When you place local advisers against virtual consultants you will discover the best leverage in negotiating costs, provided that you are familiar with virtual cooperation and collaboration procedures.

Author Details
Ishan Jetley is the founder and managing director of Go Business Plans. Ishan has helped fund more than 400 businesses. He has helped businesses raise $150 million in business working capital, inventory and commercial property loans.
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